Proof of Funds (Express Entry)

[Survivor Expert]

thanks buddy..I am just crossing my fingers and taking the final step today,hopefully everything works out

 

[arash0a]

Hi friends,

I opened a bank account 3.5 moths ago before receiving ITA and deposited $30000. Should I be concerned regarding my bank account as it is less than six months old.

 

[nekeol]

Hi friends,

I opened a bank account 3.5 moths ago before receiving ITA and deposited $30000. Should I be concerned regarding my bank account as it is less than six months old.

No problem just issue certificate of balance

 

[dansousa]

Hey Guys,

Quick question about POF...
I've just received NOI from Ontario and gathering the docs..
I have a family of 4 so I have to prove CAD 22.2k
I live in Australia and have around CAD 10k in savings account.
When I left Brazil, where I was born, I left some money there but I had to create a joint account together with my mom so she could administer it properly. This account has around CAD 30K.
What do I have to do for them to consider the money on this account? I'm working on the letter for the bank and the statements. I was thinking about a letter for my mom stating that I have full access to account and blablabla...

Anyone can help on this?

Thanks

 

[EdBell]

For the Proof of Funds, I would like to show two accounts one in Canada and one Outside Canada. Because only combining the amounts in both accounts I can get to the required value. Will that be acceptable for CIC? I don't want to transfer the money from outside Canada because I will lose a lot of money in the transfer.

 

[dansousa]

For the Proof of Funds, I would like to show two accounts one in Canada and one Outside Canada. Because only combining the amounts in both accounts I can get to the required value. Will that be acceptable for CIC? I don't want to transfer the money from outside Canada because I will lose a lot of money in the transfer.

If the account outside Canada is under your name, there should not be a problem. You will need the same letter and statement from the bank.

 

[hhhh]

Short-term FDs should be fine. Not those 3 year/5 year ones, if your bank offers those instruments.

Sir,

May I ask why the 3 yrs Fixed Deposit will not be accepted?
Thanks!

 

[shoxdid]

I am planning to enter the pool in April/May. However before this month I barely have any saving on my account although I have a net income around 3000CAD. The parents of my wife just deposited 20,000CAD in my account as a gift to sponsor our immigration process. They also transfered us another 30,000CAD for our own business at the same time, but this amount which will be invested in our own company is going to be out of my account soon. Is this a problem for visa officer if he sees large transaction happened recently though the 20000CAD for immigration will be there untouched?

Thanks a lot!

 

[mortycia88]

hi guys. I have a question. I have been invited to apply for PR under CEC. if I dont need to proof the funds, that would be great. but I dont have a bank account in my country of origin. I have only my life insurance with savings written on my name that I am the insured person. can I use it as a proof of funds if needed? I have my bank account from Scotland where I live now but dont have enough money there, only if I combine those two.
can you please tell me if I can use it?
thank you

 

[nekeol]

hi guys. I have a question. I have been invited to apply for PR under CEC. if I dont need to proof the funds, that would be great. but I dont have a bank account in my country of origin. I have only my life insurance with savings written on my name that I am the insured person. can I use it as a proof of funds if needed? I have my bank account from Scotland where I live now but dont have enough money there, only if I combine those two.
can you please tell me if I can use it?
thank you

can you withdraw this life insurance savings at any time or if required then you can combine it with bank statement of saving statement.
bank account in any country is good enough as long as it is under your name.

 

[joelmath]

I am planning to enter the pool in April/May. However before this month I barely have any saving on my account although I have a net income around 3000CAD. The parents of my wife just deposited 20,000CAD in my account as a gift to sponsor our immigration process. They also transfered us another 30,000CAD for our own business at the same time, but this amount which will be invested in our own company is going to be out of my account soon. Is this a problem for visa officer if he sees large transaction happened recently though the 20000CAD for immigration will be there untouched?

Thanks a lot!

Shouldn't be a problem as the amount that is required for settlement funds is untouched and backed by appropriate gift deeds/declarations. When you add LOE to explain the gift amount, add a line to explain the additional 30,000 CAD that were in your account for some.

 

[Neo_says]

Hi Guys,

I received ITA under FSW prog.
I am on an open work permit and working since last two years.
I have a positive LMIA.

Do I still need to fullfill the requirement for Proof of Funds ? ??? ??? ???

 

[Stanlee]

Hi Guys,

I received ITA under FSW prog.
I am on an open work permit and working since last two years.
I have a positive LMIA.

Do I still need to fullfill the requirement for Proof of Funds ? ??? ??? ???

No, you are good. This is what the requirement says 'Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you have been invited to apply under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada.' http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

 

[Neo_says]

No, you are good. This is what the requirement says 'Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you have been invited to apply under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada.'

Thnaks Stanlee
Really appreciate it.

 

[peterkc]

Hello,

I got an ITA in July 2015 and i submitted my application in October 2015 but i got married in recently. I added my spouse to my application, how long would it take CIC to request my spouse to go for medicals?

No. 2, I am thinking i should have added some money to my proof of funds when i submitted additional papers to add my spouse to my application? A consultant said i do not need to add any more money to my settlement funds since i am already working in Canada but i dont have LMIA.

Guys, please what do you think? do you think i should have added money to my proof of funds while adding my spouse?
Thanks